Economic Agenda

NEWS FROM THE FRENCH TRADE MISSION

The European-American Chamber of Commerce formally launched in Cincinnati

After the opening of the first chapter of the European Chamber of Commerce (EACC) in Paris last year, Cincinnati became the first American city to be home an European-American chamber of commerce. This new organization will promote two-way trade between the Cincinnati region and European countries, including France, through the French-American Chamber of Commerce, that will become a subsidiary of the EACC. More than 200 European companies have a presence in the area, and hundreds of Cincinnati companies export their products and services to Europe.

The EACC was formally launched on February 5th, with the organization of an aerospace trade seminar “Doing Business with Airbus”, and an inaugural gala dinner with Barry Eccleston, CEO of Airbus North America as a keynote speaker. For more on the new EACC in Cincinnati, please visit www.europe-cincinnati.com.

NEWS FROM INVEST IN FRANCE AGENCY

U.S. Investments in France Increase for Fourth Straight Year

In 2006, the U.S. maintained its leading position with the largest single-country share of foreign direct investment in France, accounting for 23.8% of the 39,998 jobs created in France — an overall increase of 32.7% over 2005. Germany ranked 2nd with a 16.4% share, followed by the U.K. with a 10.6% share. This marked the fourth straight year that U.S. investments in France continued to rise.

Midwest companies created 2820 jobs in France, about a third of all new US jobs in France. Among the companies having significantly invested in France last year, one notes Carlson Companies, Inc., ITW, Invacare Corporation, Cerner Corporation, Wrigley and Johnson Controls - Saft.The 2006 results were presented in Paris on February 28, 2007 by Christine Lagarde, France’s Minister for Foreign Trade, accompanied by Philippe Favre, Chairman and CEO of the Invest in France Agency (IFA).

"The excellent results for 2006 demonstrate the improvement in France’s business environment over the past several years," said Mr. Favre. "These are the best results since the annual Review was launched in 1993."

Hot Growth Sectors for U.S. Companies

LogisticsLeading the pack of major investments in 2006 was FedEx, which continued to expand its hub at Roissy-Charles de Gaulle Airport in Paris. The latest expansion of the hub, which has been operating since 1999 and is now the company’s largest hub outside the U.S., resulted in the addition of 300 employees. A total of 2,003 jobs were created in the transportation, warehousing and construction/civil engineering sectors.

InnovationModern Engineering, the provider of staffing, engineering and design services, selected Saint-Etienne as its base for European expansion, building an engineering center to serve its European clients, employing 150 people. A total of 1,789 R&D and innovation-oriented jobs were created in 2006.

Business servicesIn 2006, the business services industry became the largest job-creator from FDI, with 5,209 new jobs. One notable force behind the business services surge in France was Expedia. The on-line travel expert expanded its current operations in France and also added a client relations center to serve its European customers, adding 200 employees.

The U.S. and France have a close and longstanding business partnership. The U.S. is the leading foreign investor in France, with corporate investments valued at $171 billion supporting almost 550,000 French jobs, while France is the second-largest investor in the U.S., with corporate investments valued at $43.9 billion supporting almost 600,000 American jobs.

Approximately $1 billion in commercial transactions take place between France and the U.S. every business day.

Duff & Phelps, LLC, Chicago, IL, announced on February 20, 2007 the opening of a new office in Paris, as part of its continued European expansion. Kleon Phili, Managing Director in charge of Duff & Phelps’ international operations, said, "Since the implementation of IFRS in 2005, EU listed companies are required to obtain valuations of tangible and intangible assets and businesses relating to mergers and acquisitions, goodwill impairment testing and the issuance of employee stock options. This has increased the demand for valuation services globally and has led to the opening of our Paris office. As a leadingindependent financial advisory firm, Duff & Phelps is uniquely qualified to assist companies with their valuation and financial reporting needs."Duff & Phelps is one of the world’s leading independent financial advisory firms serving client needs in the areas of valuation,investment banking, transaction advice, and dispute consulting. Website: www.duffandphelps.com.

Garmin International Inc., Olathe, KS announced on January 3, 2007 that its parent company Garmin Ltd. has acquired EME Tec Sat SAS ("EME"), the exclusive distributor of Garmin’s consumer products in France. Following the acquisition, EME will change its name to Garmin France SAS. The company will retain its management, sales, marketing and supporting staff, consisting of approximately 50 people, and will continue to be located at its current headquarters in Nanterre, a suburb of Paris. "EME has been instrumental in growing the sales of our consumer productsin France. We believe that there is significant potential for further growth in this important European market," said Dr. Min Kao, chairman and CEO of Garmin Ltd. "This acquisition will strengthen Garmin’s presence in the French market and will enable us to expand our marketing and sales teams, and consequently, more effectively support our keyretailers, OEMs and central purchasing groups in France."Through its operating subsidiaries, Garmin Ltd. offers position and navigation solutions - most of which are enabled by GPS technology. Garmin is a leader in the general aviation and consumer GPS markets and its products serve aviation, marine, outdoor recreation, automotive,wireless and OEM applications. Garmin Ltd. is incorporated in the Cayman Islands, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Web site: www.garmin.com

IDEX Corporation, Northbrook, IL, announced on February 14, 2007, the acquisition of Faure Herman SA, a leading provider of ultrasonic and helical turbine flow meters used in the custody transfer and control of high-value fluids and gases. Headquartered in La Ferte Bernard (Pays dela Loire region), with sales offices in Europe and North America, Faure Herman has revenues of approximately $17 million euro ($22 million USD). Faure Herman’s products include the Heliflu Turbine meter and the FH8500Ultrasonic Meter, both of which are the technology of choice in the oil, gas and refined fuels industries and are recognized by their customers for precision and accuracy. Faure Herman will be operated as part of the company’s Liquid Controls business within its Fluid & Metering Technologies segment.

Commenting on the acquisition, IDEX Chairman and Chief Executive Officer Larry Kingsley said, "We are extremely pleased by Faure Herman’s decision to become part of IDEX. Faure Herman is a technology leader in this exciting and growing market, and the highly precise nature of theirproducts and strong regional brand recognition will add significantly to our precision metering capability." Liquid Controls President Kevin Hostetler added, "The acquisition of Faure Herman dovetails nicely with the new controls platform we acquired with Toptech Systems and will enable our continued growth in Europe. Most significantly, Faure Herman will enhance our ability to support our customers in their desire to move, measure, and dispense high-value fluids anywhere in the world." IDEX Corporation is an applied solutions company specializing in fluid and metering technologies, health and science technologies, dispensing equipment, and fire, safety and other diversified products built to its customers’ exacting specifications. Web site: www.idexcorp.com.

Illinois Tool Works Inc., Glenview, IL, acquired on January 11, 2007, Horis SA, a leading French supplier of equipment, systems and service to the food industry. Horis will be integrated into Hobart ’s business. Horis employs 1600 people in France. ITW is a $14.1 billion in revenues diversified manufacturer of highly engineered components and industrial systems and consumables. The company consists of approximately 750 business units in 49 countries and employs some 55,000 people. Web site: www.itw.com

Kohler Co.’s Global Power Group, a global leader in engines and power generator systems, announced that SOREEL, its French subsidiary, set up an plant in Dagneux (Rhone-Alpes region). Historically a "panel builder" based in Cholet (Maine et Loire), employing 150 people, Soreel is a major integrator in the industrial electrical equipment sector. Founded in 1873 and headquartered in Kohler, Wis., Kohler Co. is one of America’s oldest and largest privately held companies. Kohler is a global leader in the manufacture of kitchen and bath products, engines and power generation systems, cabinetry, tile and home interiors, andinternational host to award-winning hospitality and world-class golf destinations. Web site: www.kohler.com.

Trek Bicycle Corporation, Waterloo, WI, announced that it will reorganize its European distribution: the central office in Amersfoort, the Netherlands, will be split up. New sales offices will be opened in France (Toulouse, headed by current French sales manager Nicholas Schaefer), in Denmark and in Switzerland. Trek Bicycle Corporation is a major American bicycle and component manufacturer. Trek is the largest US manufacturer of bicycles and related aftermarket products and is becoming a major industry player worldwide. Web site: www.trekbikes.com.

A new guide "Guide to doing business in France" is now online Published by Lex Mundi, the World’s leading association of independent law firms, this free guide gives you all the important information you need for doing business in France.

About the Invest in France Agency: The Invest in France Agency is the economic development arm of the French government responsible for promoting foreign direct investment into France. Its mission is to help companies find the most profitable and competitive solution in France for their European business goals. In addition to facilitating access to financial and fiscal incentives, Invest in France provides key industry contacts, site selection studies and regulatory information and helps identify potential partners and acquisition opportunities. Services are customized, confidential and complimentary. Invest in France has 32 offices in 22 countries, including North American offices in New York, Chicago, San Francisco and Toronto. For more information, please visit www.investinfrance.org.

Firmafrance.com : The official French Exporters Free resourceFirmafrance.comwas launched in France on June 25th, 2003 by UBIFRANCE, the French Agency for international business development, and the French weekly magazine on topical industrial news, l’Usine Nouvelle. It is the first and only B2B website which brings together 20,000 French exporters. Dedicated to foreign companies who wish to identify reliable suppliers and partners, it also gives companies the chance to announce their offers and seize business opportunities on line.

UBIFRANCE

May 7-9, 2007: French accessories designers bring dynamic looks with feminine appeal to Accessories Circuit Show in New York.

France, Learn it, Live it, Sell it - Become a France Certified AgentMaison de la France offers a unique Certification program for travel agents in the U.S.The course prepares American travel agents to sell one of the world’s most popular destinations. You’ll discover the beauty and romance of France through maps, photographs, and information about niche markets that includes vineyard tours and barge cruising, and details about France’s famous food and wine. With in-depth information about France’s climate, history, transportation, accommodations, special events, dining, entertainment, and shopping, you’ll soon be selling France with confidence.

The program also provides sales strategies and sample itineraries. Upon successful completion of the course and test, agents will be invited by Maison de la France to participate in a low-cost educational trip to France. For criteria on the France Certified Agent program, visit www.thetravelinstitute.com and click on Destination Specialist Courses.

To prepare your vacation in France two sites:Franceguide.com from Maison de la France and Skifrance.fr from the Association nationale des Maires des Stations de Montagne.

Maison de la France is delighted to provide you with information and helpful hints for you and your students’ next trip to France!. Don’t hesitate to contact Maison de la France at (514) 288 1904 if you need brochure for the Young Traveler or the general FranceGuide 2005 brochure that includes fun facts and celebrities’ interviews such as Tony Parker who grew up in France.

E-newsletter from the Maison de la FranceE-News from France is the Maison de la France French Government Tourist Office monthly consumer e-newsletter. It provides up-to-the-minute information on travel to France, including hot deals, events and other news of interest to American visitors. For more information and to sign up click (here) or send an (email).

Through expatriate eyes!Through expatriate eyes is a way to discover the Paris of Parisians! The faculties of expatriate friends - the booksellers, writers, journalists, wine merchants and restaurateurs that define contemporary Paris reveal the best of Paris - past and present. For calendar of events or other information please contact Terrance Gelenter at 415-388-4956. Visit the website: www.paris-expat.com/index.html

ILLINOISChicagoMarch 13: French-American Chamber of Commerce Members-Only LuncheonThe second Tuesday of every month, the Hotel Sofitel Chicago Water Tower hosts the FACC’s members-only luncheon. Members enjoy an exclusive networking opportunity over an an exquisite meal prepared by Chef Gilles Arzur. For more information, or to become a member, contact the French-American Chamber of Commerce at 312-578-0444 or jjackson@facc-chicago.com.

March 14: French-American Chamber of Commerce Business Breakfaste Seminar - Customs LawMr. Paul Anderson of Sonnenberg & Anderson will present on customs law at the March seminar in the Breakfast Business Seminar Series by the FACC. The seminar with breakfast will be held from 8-10am and is free for members of the French American Chamber of Commerce and $20 for non-members. For the location and to make reservations, please contact the French-American Chamber of Commerce at 312-578-0444 or jjackson@facc-chicago.com before March 12.

MICHIGAN

March 2, 2007: French-American Chamber of Commerce Renaissance DinnerPlease join the FACC of Detroit to celebrate the season, to welcome new members and network. 6:00 p.m. - 8:00 p.m. at the City Cellar Bar & Grill, 201 Hamilton Row, Birmingham, MI. To RSVP contact: faccmi@claytonmckervey.com.

May 12, 2007: French-American Chamber of Commerce Springtime in Paris SoireeJoin the FACC of Detroit This spectacular event includes dinner, dancing, a fashion show and raffle. 7:00 p.m. - 12:30 a.m. at the Orchard Lake Country Club, 5000 West Shore Drive, Orchard Lake, MI 48324. To RSVP contact: faccmi@claytonmckervey.com.

OHIOCincinnatiMarch 28, 2007: Wine & Cheese Silent Auction Drop-offJoin the French American Chamber of Commerce, Cincinnati for a party and an introduction of New Board Members. Join us for a donation drop-off social! Donations will got to the annual gala fundraiser’s silent auction. Click (here) for complete information.